"We appreciate IBM's work in developing this business, and our ownership will help Merative drive crucial focus in executing on organic and inorganic growth strategies. Supported by the innovation of IBM and intelligence of Watson. "Francisco Partners is excited about the opportunity to partner with the team and employees at Merative to help them achieve their mission, bringing technology and expertise to clients across healthcare through industry-leading data and analytics solutions," said Ezra Perlman and Justin Chen of Francisco Partners. IBM Watson Health is a data, analytics, and technology partner for the health industry. IBM, meanwhile, was able to shift away from the underperforming Watson business and put more resources toward its ''maniacal focus" on hybrid cloud development. The PE firm – with some $30 billion in assets and two decades of investments in digital health companies, such as Availity, GoodRx and Zocdoc – said it would use the "extensive and diverse" datasets and technology products it acquired to launch a stand-alone company to serve provider, imaging, life sciences, payer and other healthcare clients. Financial terms of the deal were not disclosed at the time, but Bloomberg reported the price tag to be more than $1 billion. IBM announced the deal this past January to sell off the healthcare data and analytics assets of its Watson Health business to Bay Area-based Francisco Partners. "With the commitment, support and deep experience of Francisco Partners, we will invest heavily in expanding the reach of these products as we continue to work with clients to improve healthcare delivery, decision-making and performance." IBM Watson Health Playing a critical role in the health industries, IBMs solutions, services and innovations are enabling organisations to transform today. "Merative has market-leading products, top clients and talented leadership," he said. Riding on Watson’s success answering trivia questions on the TV game show Jeopardy in 2011, IBM looked to throw AI at everything from. Gerry McCarthy, who was previously CEO of Francisco portfolio company eSolutions and has served as president of TransUnion Healthcare and as an executive at McKesson, has been chosen to lead Merative. Watson Health started as a hammer looking for a nail. You have to ground yourself, and they do that. Merative's products will be focused across six areas, according to Francisco Partners, bolstered with new resources for investment, acquisitions, partnerships and growth: 5 hours ago &0183 &32 RAVI DUBEY- Spending time with my family is one of those things which keeps my mental health okay. Six months after scooping up the health analytics assets of IBM Watson Health, private equity firm Francisco Partners announced this past week that it is using them to launch a new healthcare data company, called Merative.įrancisco Partners says Merative will combine these assets to help "deliver value across the global healthcare ecosystem, serving clients in life sciences, provider, imaging, health plan, employer, and government health and human services sectors."
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